Tomorrow, I’m signing up for the company group RRSP plan. The deal is if I contribute 6% of my gross yearly income, EA will match that amount in a profit sharing program. Well, they’ll kinda match it. If the company is doing poorly, they’ll match a percentage of that amount. In any case, people tell me it’s a no-brainer. Everyone should be putting away money for retirement anyways and in this case, the company is giving me free money.
Since I’m just signing up now, it’s a pretty hefty cheque I’m writing to London Life. Hefty in the sense that I usually write cheques for about $100.
I’m sorta late to the RRSP game. I made small contributions before grad school but man, I wish I was like other people. I know some who have put several thousand into RRSPs every year since they were in their early 20s. Now in their early 30s, they’re in great shape and can easily see the power of compounding.
I guess it was hard for me to contribute since I only worked full-time three years out of the ten when I was in my 20s. Wow! What a stat. That’s just horrible. I feel shame.